Nike benefits from new U.S.-Vietnam deal
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The stock of Nike (NYSE: NKE) surged on Wednesday, July 2nd, after U.S. President Donald Trump announced a new trade agreement with Vietnam. The deal stipulates that U.S. imports from the Southeast Asian country will only be subject to a 20% tariff, instead of the previously announced 46%, and Vietnam will not impose tariffs on U.S. products. Relief for a key production region The agreement is of significant importance for Nike: Over half of the sports shoes imported into the U.S. come from Vietnam. For years, the company has shifted large parts...
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